Pan American Silver Corp. (NYSE:PAAS) Forecasted to Earn Q2 2023 Earnings of $0.05 Per Share

Pan American Silver Corp. (NYSE:PAAS – Get Rating) (TSE:PAAS) – Equities researchers at Scotiabank cut their Q2 2023 EPS estimates for Pan American Silver in a research note issued to investors on Tuesday, May 23rd. Scotiabank analyst O. Habib now anticipates that the basic materials company will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.18. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Pan American Silver’s current full-year earnings is $0.54 per share. Scotiabank also issued estimates for Pan American Silver’s FY2023 earnings at $0.29 EPS.

PAAS has been the subject of several other reports. TD Securities dropped their price objective on Pan American Silver from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, February 24th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Pan American Silver in a research report on Tuesday, February 28th. Finally, StockNews.com lowered shares of Pan American Silver from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Pan American Silver Trading Down 0.5 %

Shares of PAAS opened at $14.91 on Friday. The stock has a 50 day simple moving average of $17.29 and a 200-day simple moving average of $16.99. The company has a current ratio of 2.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.14 billion, a PE ratio of -7.81 and a beta of 1.21. Pan American Silver has a 1 year low of $13.40 and a 1 year high of $24.21.

Pan American Silver (NYSE:PAAS – Get Rating) (TSE:PAAS) last posted its quarterly earnings results on Thursday, February 23rd. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Pan American Silver had a positive return on equity of 0.74% and a negative net margin of 22.82%. The business had revenue of $375.43 million during the quarter, compared to analyst estimates of $409.65 million. During the same period last year, the company earned $0.19 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors have recently modified their holdings of PAAS. Moneta Group Investment Advisors LLC raised its position in Pan American Silver by 94,294.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 35,309,364 shares of the basic materials company’s stock worth $576,955,000 after purchasing an additional 35,271,958 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Pan American Silver by 13.6% during the first quarter. Van ECK Associates Corp now owns 24,829,558 shares of the basic materials company’s stock valued at $451,896,000 after acquiring an additional 2,965,528 shares during the period. Two Sigma Investments LP lifted its stake in shares of Pan American Silver by 453.8% during the fourth quarter. Two Sigma Investments LP now owns 3,215,448 shares of the basic materials company’s stock valued at $52,540,000 after acquiring an additional 2,634,795 shares during the period. Norges Bank acquired a new stake in Pan American Silver in the fourth quarter worth about $35,988,000. Finally, Millennium Management LLC raised its holdings in Pan American Silver by 1,104.8% during the 4th quarter. Millennium Management LLC now owns 2,049,031 shares of the basic materials company’s stock worth $33,481,000 after purchasing an additional 1,878,957 shares during the last quarter. 44.11% of the stock is owned by institutional investors.

Pan American Silver Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 14th were issued a dividend of $0.10 per share. This represents a yield of 2.2%. The ex-dividend date of this dividend was Thursday, April 13th. Pan American Silver’s dividend payout ratio is currently -27.23%.

Pan American Silver Company Profile

(Get Rating)

Pan American Silver Corp. engages in the operation, development, and exploration of silver and gold producing properties and assets. It operates through the Silver and Gold segments. The company was founded by Ross J. Beaty and John H. Wright on March 17, 1979 and is headquartered in Vancouver, Canada.